Hawaii Deferred Compensation Plan, Honolulu, hired CitiStreet as third-party administrator of the $900 million 457 plan, replacing Hawaii Benefits, said Wayne L. Chu, board vice chairman.
Separately, plan officials expect to seek up to five new investment options, Mr. Chu said. They will drop the Prudential Total Return and Equity funds, he said, and add other investment options to fill in asset-class gaps in the plans current menu of eight investment options. A decision might be made as early as next month. The new options may include stable value, fixed income, large-cap value, large-cap growth and small-cap to midcap value.